Category Archives: IOS

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Samsung Claims Smartphones Provide Best Security for Crypto

Multinational tech conglomerate Samsung has argued that smartphones can provide the best security for cryptocurrency holdings because of the combined efficiency of apps and the presence of the trusted execution environment (TEE).

Cryptocurrency wallet apps like Blockchain and Jaxx are a convenient and popular way to transfer, send and store assets on a smartphone. What Joel Snyder, a senior IT consultant and a contributor to Samsung Insights pointed out, is that the TEE under which the majority of smartphones operate offers a nearly impenetrable barrier for hackers.

Because the TEE is completely independent of an individual’s device with its own separate memory and storage, potential hackers and even operating systems such as Android cannot penetrate and alter or access the data. This prevents passwords and private keys of wallets from being accessed.

Laptops and such devices that utilize conventional data storage units such as an SSD are more vulnerable to risk due to their persistent nature that gives an opportunity for hackers to enter and steal data, cryptocurrency account information included.

Snyder for Samsung noted that while ”a naive wallet developer” might fail to employ the advantages of the TEE and store keys on the phone’s internal storage, the combination of the TEE and an effective wallet offer the most secure place for your cryptocurrency holdings.

What else the TEE can offer

A research effort conducted by Cornell University in December 2016 first offered the concept of Bitcoin scaling via the TEE. The team developed a technology called Teechan which they built on top several TEEs including the Software Guard Extensions of Intel.

The results were promising. Transactions were able to be processed off-chain, then fixed into larger transactions to be established on the blockchain. Significant progress has been seen, with over 2,480 transactions per second recorded as successfully processed.

 

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Xapo Chief Ted Rodgers: Bitcoin Will be Global Reserve, But Go Long

Xapo president Ted Rodgers believes that Bitcoin will become a global reserve asset, similar to the current U.S. dollar, writes News BTC.

Rodgers sees the market making a recovery, but slowly with little impact over the next few weeks, but feels, long-term, Bitcoin will be worth hundreds of thousands of dollars.

The Xapo president has long been bullish about Bitcoin. Xapo holds an estimated $10 billion in BTC in cold storage underground vaults and is one of the largest and most highly respected exchanges in the industry. The Xapo wallet has also become a reliable storage solution for cryptocurrencies, to the extent its been adopted by IOS and Google apps stores around the world.

Once First Block Capital, Canada’s first fully registered crypto firm, toured one of the Swiss-based Xapo vaults and was very impressed with the company:

“Every part of their DNA is geared to security… Whenever we make big transfers they FaceTime us, we have duress words, if it’s big enough they’ll fly out to see us.”

These types of credentials mean that Rodgers’ views are listened to with more than just a degree of interest by the global cryptocurrency community. Rodgers has said before that Bitcoin will become the global reserve in the same way that the US dollar is now, a view that’s is clearly close to his heart. His “hundreds of thousands of dollars BTCs” statement would create a massive market cap if it became reality.

At $200,000 the market cap would be over 3 Trillion dollars, according to News BTC, surpassing any existing publicly traded company today. The prediction is not isolated though, with similar numbers having been bandied about for quite some time in the crypto press, to the extent that they are now rarely read with any degree of credulity.

Rodgers advice is, go long, stating “I think Bitcoin is a long-term investment and I personally wouldn’t get into it for short-term trading”

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Indian Teenager Finds Californian Buyer for Crypto App

Indian teenager Hashita Arora, just 16 years of age, has received an offer from a Californian blockchain investment firm for her home-developed tracking app.

Hashita has gained worldwide attention as a result of her success with the app, one of many young people making an impact around the globe within the crypto community. Despite her meagre years, she has attracted the attention of Californian-based blockchain investment firm Redwood City Ventures.

The app is a popular iOS application used to track crypto prices. It helps retail investors to monitor prices of more than 1,000 cryptocurrencies across about 20 exchanges and in 32 fiat currencies, in ten languages. Launched in late January in Hashita’s hometown north of New Dehli, the application soared to the top of the app store charts in 24 hours.

Hashita received racist hate mail and misogynistic attacks online from people doubting the origins of the new app and casting doubts on her ability to invent the technology. The young Indian national originally studied in the US at an MIT summer programme and is currently applying for work in the country through a program currently offering visas to foreigners with exceptional abilities. Talking about her earlier experiences online, she commented, “I learned that the online world can be cruel. But I feel I have an entrepreneurial spirit and I love startup culture.”

She said that she was delighted to be a part of the Redwood City Ventures team and looks for support in the development of other ideas and products.

Home-educated Hashita had been learning about coding and digital design since the age of 13. She went on to learn about cryptocurrencies in a tech magazine and quickly became passionate about the subject, realizing an opportunity existed to use her skills to develop a help app.

It was Redwood City Ventures founder, Sean Walsh, who eventually discovered Harshita after posting a cryptocurrency app advertisement on LinkedIn. On meeting Harshita, Walsh was impressed with her maturity and intelligence, realizing she had designed an app that would be both useful and could be marketed at a good price.

The young Indian’s next venture is to plan is to use the money earned from her app to improve her education. She then plans to move to Silicon Valley.

 

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